More investors are reportedly parting ways with Nigeria following the unfavourable economy which has led to losses on the part of the businessmen.
There is strong indication that foreign investors who used to transact larger percentage of activities in the Nigerian stock market have been withdrawing their investments from the market.
Many analysts attributed the foreign investors’ actions to unfavourable condition of foreign exchange currency.
Foreign investors who used to dominate trading in the Nigerian stock market transacted 51.57 per cent of total market activities in January 2016, down to 36.48 per cent at the end of February trading.
According to the Nigerian Stock Exchange polls trading figures from major custodians and market operators on their Foreign Portfolio Investment (FPI) flows for the month of February, foreign investors withdrew N31.84 billion during the month against N10.94 billion invested in Nigeria market.
The percentage of transactions of foreign investors in February was 36.48 per cent compared to 74.49 per cent of domestic investors.
Total transaction on the bourse during the month stood at N117.27 billion as against N184.49 billion total transaction carried out in January.